This B.C. House Went For $5 Million 3 Years Ago. New Asking Price? $28.8 Million

Is there no end to the money the world’s rich are willing to sink into British Columbia’s property market? If there is, it’s not on the horizon yet, not if a newly listed waterfront estate on Vancouver Island is any sign.

This is no ordinary house — the award-winning property in Metchosin, half an hour south of Victoria, is heated by a river that runs right through the house.

A recent report from realtor Re/Max may offer a clue as to why: House price growth has been so strong that homeowners have become afraid to leap into the competitive property market. And others are waiting to land a higher price for their property in the future.

Either way, if this trend continues, this unique house could be back on the market again — with an even higher price.

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Vancouver Island House For Sale

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This award-winning home outside Victoria, B.C. has plenty of modern features, including an electrical system that can be controlled online from anywhere in the world. The 10,700 sq.-ft. home was listed for $13.3 million in 2013.

The Canyon River runs down the middle of the Vancouver Island estate. An eco-friendly, state-of-the-art system heats the house using water from the river.

The home sits on a whopping 68 acres, taking advantage of 1,400 feet of rugged coastline.